When I look at the STI chart, i can see that it is unable to break the resistance 2280 over the last few days. While many are shouting "cheong arh" or "shortist die pain pain", I stepped aside and look at it from another angle. I flipped the STI chart upside down and now it looks like it is resting on the support level. This is the level most find comfortable in going for long because the breaking of support is unlikely as it is tested. Now flip the chart back to normal, people are expecting it to break the same line. Why the indifference? Although i'm bullish on STI by year end, unless it breaks through with index stocks breakout in volume, otherwise i prefer to watch the actions by the side line. Buy too early and I will risk being caught in the offside trap.
K2 is right! HL Asia breaks out! It draws SGX qeury and has yet to reply. Take note of this stock guys, you will see how the news will be let known to retailers like us after the big boys collected enough. They wanna make use of the ignorant to push the price higher so they can buy low sell high. However I do see a cup and handle formation. It's a classic breakout at the handle.
I apologise for not able to come online at 4:30pm past 2 days, work has to come first as it is still my primary source of income. Anyway do check back on Sunday night for all the breakout charts so far.
